The company plans to expand U.S. mining with Compute North, Core Scientific and others, per a release.
Nasdaq-listed bitcoin mining company Bit Digital (BTBT) announced plans to expand its North American-hosted mining presence through its partnership with Compute North, Core Scientific and Link Global Technologies.
To date, the company hosts 2,100 machines with Compute North. The updated partnership will see Bit Digital move an additional 3,000 S17+ machines during Q2, per a press release.
Interim CEO Erke Huang said partnerships with Compute North and others will allow his company to “quickly expand U.S. based bitcoin production.”
While it plans to expand in the U.S., Bit Digital is currently facing class-action lawsuits based on allegations of fraud misrepresenting its Asia-based mining capacity. Those allegations first surfaced in a report by J Capital in late January.
The company has also undergone some senior-level leadership changes after removing its former CEO Min Hu and accepting the resignation of board Chairwoman Ping Liu, per CoinDesk's prior reporting.
Shares of the mining company have dropped over 45% to around $16.16 at last check, per TradingView data.